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Zoomlion Heavy Industry Science & Technology Co ( (HK:1157) ) has provided an announcement.
Zoomlion Heavy Industry Science & Technology Co., Ltd. has announced its intention to acquire an 81% aggregate interest in a finance leasing and insurance agency services company, referred to as the Target. This acquisition, if successful, will result in Zoomlion holding 100% of the Target’s interests, allowing for full consolidation into its financial statements. The acquisition process will be conducted through a public tender, adhering to PRC laws, with a total cash consideration of no less than RMB1,627,290,200. The company plans to finance this purchase using internal resources, and the transaction is subject to regulatory approval in Beijing.
The most recent analyst rating on (HK:1157) stock is a Hold with a HK$3.90 price target. To see the full list of analyst forecasts on Zoomlion Heavy Industry Science & Technology Co stock, see the HK:1157 Stock Forecast page.
More about Zoomlion Heavy Industry Science & Technology Co
Zoomlion Heavy Industry Science & Technology Co., Ltd. is a leading construction machinery manufacturer based in the People’s Republic of China. The company offers a diverse range of products, including concrete machinery, crane machinery, and agricultural machinery, with a presence across Asia, Europe, and other regions.
Average Trading Volume: 15,876,750
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$65.82B
Learn more about 1157 stock on TipRanks’ Stock Analysis page.